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To learn more about our privacy policy Click hereâRenter fraud was already on the rise prior to the pandemic, but the increased adoption of agentless touring and leasing tools, which allow residents to find and rent an apartment with zero in-person interaction, has opened the door for even more
... moreâRenter fraud was already on the rise prior to the pandemic, but the increased adoption of agentless touring and leasing tools, which allow residents to find and rent an apartment with zero in-person interaction, has opened the door for even more fraud,â says Alec Page, vice president at Park City, Utahâbased RET Ventures, an early-stage venture fund that invests in multifamily technology firms.
This is where ApproveShield steps in with their solution that combines Machine Learning with experienced Analysts that are trained to not only spot fraud attempts, but also bring a human element to the equation that others have unsuccessfully tried to solve with technology alone. Some of the items that separate ApproveShield from the rest are:
ApproveShield identifies recently evicted tenants by finding eviction filings as soon as they occur, instead of relying on databases that only show filings after a 30 to 60-day lag time.
The problem has been compounded within the apartment industry by the rapid adoption of proptech during the pandemic. While virtual and self-tours have been lifesavers for many operators, allowing them to lease vacant units without putting staff at risk
... moreThe problem has been compounded within the apartment industry by the rapid adoption of proptech during the pandemic. While virtual and self-tours have been lifesavers for many operators, allowing them to lease vacant units without putting staff at risk or scaring off pandemic-weary prospects, thereâs a dark side to taking the leasing process virtual.
lessâRenter fraud was already on the rise prior to the pandemic, but the increased adoption of agentless touring and leasing tools, which allow residents to find and rent an apartment with zero in-person interaction, has opened the door for even more
... moreâRenter fraud was already on the rise prior to the pandemic, but the increased adoption of agentless touring and leasing tools, which allow residents to find and rent an apartment with zero in-person interaction, has opened the door for even more fraud,â says Alec Page, vice president at Park City, Utahâbased RET Ventures, an early-stage venture fund that invests in multifamily technology firms.
This is where ApproveShield steps in with their solution that combines Machine Learning with experienced Analysts that are trained to not only spot fraud attempts, but also bring a human element to the equation that others have unsuccessfully tried to solve with technology alone. Some of the items that separate ApproveShield from the rest are:
ApproveShield identifies recently evicted tenants by finding eviction filings as soon as they occur, instead of relying on databases that only show filings after a 30 to 60-day lag time.
ApproveShield system catches ID fraud, ensuring that applicants are who they claim to be and preventing later problems with non-payment and eviction.
To support legal compliance and fairness, process verifies criminal background checks to weed out mismatched records and determine the most recent disposition of cases.
Hiding evidence of past financial mismanagement is a form of identity fraud thatâs common in any industry that relies on a view of past behavior to predict future events. Entities like credit reporting agencies receive account information from lenders
... moreHiding evidence of past financial mismanagement is a form of identity fraud thatâs common in any industry that relies on a view of past behavior to predict future events. Entities like credit reporting agencies receive account information from lenders and consumer-entities businesses.
lessOne of the most common types of tenant scams is the creation of fraudulent documents that form part of the rental application. Landlords need to know that it is important to verify the details that tenants provide in their employment letter and
... moreOne of the most common types of tenant scams is the creation of fraudulent documents that form part of the rental application. Landlords need to know that it is important to verify the details that tenants provide in their employment letter and reference letters. There are professional scammers who employ this method in order to get into a property, and shortly thereafter their checks begin to bounce. Being duped into this scam can cost landlords a few monthsâ rent while they apply to a tribunal to have the tenancy terminated and the tenant evicted. Approveshield
combines the power of Machine Learning with the experienced Research Analysts to create a defense mechanism against the ever increasing number of applications that are backed with fraudulent documents.
In early 2018 ApproveShield expanded their offerings to include credit and criminal background screening services for landlords, with three tiers of service: ApproveShield Plus, and ApproveShield Premier. ApproveShield is a full-service screening
... moreIn early 2018 ApproveShield expanded their offerings to include credit and criminal background screening services for landlords, with three tiers of service: ApproveShield Plus, and ApproveShield Premier. ApproveShield is a full-service screening solution that delivers outstanding accuracy and insight for the multifamily leasing sector. ApproveShield, LLC, Screening Tenant, Dallas, TX.
lessOne common scam among professional tenants is to convince the landlord to accept a credit report provided by the tenant (not run independently by the landlord), and to hand over the keys when a lease is signed and a paper check delivered. As soon as the
... moreOne common scam among professional tenants is to convince the landlord to accept a credit report provided by the tenant (not run independently by the landlord), and to hand over the keys when a lease is signed and a paper check delivered. As soon as the lease agreement is signed and the keys handed over, the tenant now has legal possession of the property. The only way to get them out is to go through the legal eviction process, which takes months. In many jurisdictions, tenants can prolong the eviction process for six to 12 months. Approveshield sources the credit report directly from the credit reporting agency, allowing for an early detection of fraud in the application process.
The hard reality is that some apartment prospects will never pass a background check. But that doesnât mean they will stop trying. More than ever, prospects unequipped to pass a background check on honest terms are trying to circumvent the system. The
... moreThe hard reality is that some apartment prospects will never pass a background check. But that doesnât mean they will stop trying. More than ever, prospects unequipped to pass a background check on honest terms are trying to circumvent the system. The result has been a significant rise in the use of fake or stolen Social Security numbers (SSN) and fake paystubs, as unqualified prospects try to slip their way through the doors.
lessApproveShield Plus offers landlord the most comprehensive background screening for a multifamily resident in the business, while ApproveShield Premier provides full service screening and background verification service directly to the property manager
... moreApproveShield Plus offers landlord the most comprehensive background screening for a multifamily resident in the business, while ApproveShield Premier provides full service screening and background verification service directly to the property manager without the on-site team having to do any research of their own, which ensures landlords peace of mind and consistent results.
lessThe most common tenant scam we find is false prior rental verifications. Someone will answer the phone as the landlord of a property they either did not live in or was not really the actual landlord of the property they live in. We at Approveshield will
... moreThe most common tenant scam we find is false prior rental verifications. Someone will answer the phone as the landlord of a property they either did not live in or was not really the actual landlord of the property they live in. We at Approveshield will verify rental history using proven methods that minimize chance of fraud.
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